Tagged: savings

September 1, 2020 @ 12:05 pm By Samantha Hurst  |  

Chip, a UK-based automatic savings app, announced on Monday it has registered a summer of record growth, as the UK’s savers’ priorities shifted towards financial security and saving in light of the coronavirus pandemic and its impact on the economy. As previously reported, Chip is… Read More

July 3, 2020 @ 12:53 pm By Omar Faridi  |  

Nearly a third or 33% of UK residents say they were financially unprepared for the COVID-19 outbreak and resulting challenges. Around 38% of UK residents responding to a survey conducted by Fintech Zopa said they’re now preparing their savings for another potential emergency situation that… Read More

June 12, 2020 @ 9:04 am By JD Alois  |  

“Smart cash platform” Flagstone has distributed a note stating it is “business as usual” in offering new accounts for cash savings with higher interest rates. Flagstone is promoting its service while another digital savings provider, Marcus UK, has announced that it has pushed pause on… Read More

June 8, 2020 @ 10:11 am By JD Alois  |  

Fintech Raisin has distributed a report on European interest rates. Raisin provides a service that enables consumers to compare and select higher rate return savings accounts. Raisin notes that the savings rate has risen during the COVID-19 crisis, meanwhile inflation and interest rates are down,… Read More

May 18, 2020 @ 8:54 am By JD Alois  |  

Eurozone savers deposited €43 billion in March 2020, marking the eighth month where net inflows exceeded 40 billion euros since February 2019, according to a report by Hamburg, Germany based Fintech and open banking platform Deposit Solutions. The company’s research indicates that French savers deposited… Read More

February 7, 2020 @ 3:16 pm By Samantha Hurst  |  

Simple, a subsidiary of BBVA USA, announced on Friday its automatic savings program, Round-up Rules, has more than $1.2 million in customer savings accounts. According to Simple, Round-Up allows customers to have their debit card transactions rounded up to the nearest whole dollar amount, with… Read More

January 9, 2020 @ 8:26 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has launched a consultation on the competition for savings and ISA accounts. The FCA has previously raised concerns regarding interest rates paid to consumers who tend to remain with a financial institution even though their money may generate a… Read More

October 30, 2019 @ 9:19 pm By JD Alois  |  

This afternoon, the US Federal Reserve cut its benchmark interest rate by 25 basis points. The Federal Open Market Committee decided to lower the target range for the federal funds rate to 1-1/2 to 1-3/4 percent due to muted inflation and the “implications of global… Read More

August 27, 2019 @ 7:56 am By JD Alois  |  

Raisin, a Fintech that provides an online marketplace for savers seeking better returns, has acquired fairr a retirement savings Fintech. Both companies are headquartered in Germany. The acquisition by Raisin comes following a recent funding round of €25 million from Goldman Sachs. The terms of… Read More

November 15, 2018 @ 3:00 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Thursday it has formed a partnership with the Financial Capability Lab. According to the Monzo, the Financial Capability Lab was started in 2016 by the Money Advice Service, in partnership with the government’s Behavioural Insights Team. The startup also reported that… Read More

June 29, 2017 @ 12:13 pm By Samantha Hurst  |  

Folio, a new savings app for the smartphone generation, has launched an equity crowdfunding campaign on Crowdcube and is seeking to raise £320,000 as it prepares to expand and bolster its marketing strategy. Founded in 2015, Folio has 4,000 users with approximately £180,000 saved. It previously… Read More